GT Council passes new budget including 23.5 cent property tax increase.

March 9, 2010

By a 5-2 vote, Gloucester township council passed the 2010 budget that included a 23.5 cent increase to tax payers.
With the recent property reassessment, residents should expect to see an increase in their property taxes in the near future.

As the township struggles to find new sources of revenue, increases in spending may need to be curbed to avoid future shortfalls.

Gloucester Township currently budgets on a fiscal year. Mayor and Council plan to change the budget to process to a calendar year.

No clear answer as to whether the increase will be retroactive back to January 2010.
BUT
According to Professional Property Appraisers Inc, who performed the township revaluation of all real property located within the township, letter dated 12/16/09, " It should also be noted, you will not see the tax impact of the revaluation until your July 2010 tax bill, when the new tax rate is set. ( It will be retroactive to January 2010) Additionally, the impact will be considered on your state PTR (tax freeze for Seniors, for those that are eligable, but not until Feb 2011)